Windflow offer just short

27 June 2001

The Windflow Technology share offer closed yesterday, raising 76% of the minimum of $2m required to establish local wind turbine manufacturing.

"We have had a huge response over the past three days as people have strived to meet the revised closing date", said Geoff Henderson, Chief Executive, Windflow Technology Ltd. "Some existing investors have doubled and trebled their original investment; 100 additional investors have boosted the total number to 330. Inevitably some people were caught out when we had to close the offer early."

"Public support for our proposal has been overwhelming as people pay more for electricity, express concern at the climate change impacts of gas-powered generation, and see the opportunity for a socially responsible investment. We must continue our work."

The Company will revise its Prospectus and submit it to the Companies Office this week, with a view to re-opening its share offer as soon as possible.